A good is a private good if
A) people who do not pay for the good can enjoy it without paying for it.
B) it is not a common resource.
C) the good is nonrival.
D) the good is excludable and rival.
E) it is both nonexcludable and nonrival.

Question

Quizplus · Accepted Answer

A private good is one that is both excludable (meaning people can be prevented from using it) and rival (meaning consumption by one person reduces the amount available for others). Choice A describes a nonexcludable good, choice B describes a common resource, and choices C and E describe nonrival goods that may be either excludable or nonexcludable.

A Good Is a Private Good If